I had two condos that I sold on an installment sale last year. I bought the properties in 2019 for $125K each and sold both for $281K each on an installment sale last year. I earned about $12,000 each in interest in 2023 and about the same this year. The note of one of the condos was sold to a third party and the buyer of the other condo sold it and is paying me the proceeds of the balance.
I use Turbo Tax Premier. Where do I enter the final payment? Is capitol gains applicable? If so is it automatic calculated?
Thank You!!
